Jos. A Bank Clothiers Inc. (NASDAQ:JOSB) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Jos. A Bank Clothiers Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 36.08% to $1.01 in the quarter versus EPS of $1.58 in the year-earlier quarter.
Revenue: Rose 2.43% to $354.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Jos. A Bank Clothiers Inc. reported adjusted EPS income of $1.01 per share. By that measure, the company beat the mean analyst estimate of $0.98. It missed the average revenue estimate of $368.5 million.
Quoting Management: “In 2013, once the cold weather clearance period is complete, one of our goals will be to return to previous levels of gross margin rates and advertising productivity. New and more focused casual assortments and additional slim-fit suit inventories are arriving this spring. During the first eight weeks of fiscal 2013, sales were up as compared to last year. However, we remain cautious about the first quarter of 2013, especially since we have not fully annualized the calendar shift for Easter and the larger volume sales periods are still ahead of us,” stated Mr. Neal Black, President and CEO of JoS. A. Bank Clothiers.
Key Stats (on next page)…